Iceland Ranks 5th in Europe in GDP and Consumption per Capita

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Iceland Ranks 5th in Europe in GDP and Consumption per Capita

Preliminary figures for 2016 indicate Iceland’s GDP per capita was 28 percent above the EU28 average, according to a report published today by Statistics Iceland. RÚV reported first.

Iceland ranked 5th among the 37 participating countries, moving up five spots since last year. The top four spots are occupied by Luxembourg, Ireland, Switzerland, and Norway, respectively.

GDP volume per capita in Luxembourg was 158 percent above the EU28 average. The report points out that the percentage is affected by the large number of individuals who work in Luxembourg but are not residents.